Limited Liability Partnership registration number OC426416 (England and Wales)
SSA RECORDING LLP
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
SSA RECORDING LLP
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
SSA RECORDING LLP
BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Current assets
Debtors
3
25,174
2,155,972
Cash at bank and in hand
788,120
131,947
813,294
2,287,919
Creditors: amounts falling due within one year
4
(67,217)
(2,287,919)
Net current assets and net assets attributable to members
746,077
-
Represented by:
Loans and other debts due to members within one year
Amounts due in respect of profits
746,077
-
Total members' interests
Amounts due from members
-
(2,077,187)
Loans and other debts due to members
746,077
-
746,077
(2,077,187)

The members of the limited liability partnership have elected not to include a copy of the profit and loss account within the financial statements.

For the financial year ended 31 December 2023 the limited liability partnership was entitled to exemption from audit under section 477 of the Companies Act 2006 (as applied by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008) relating to small limited liability partnerships.

The members acknowledge their responsibilities for complying with the requirements of the Act (as applied to limited liability partnerships) with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to limited liability partnerships subject to the small limited liability partnerships regime.

The financial statements were approved by the members and authorised for issue on 21 February 2024 and are signed on their behalf by:
Eighty Two AB
Leton AB
Designated member
Designated Member
Music Is Good For You AB
Designated Member
Limited Liability Partnership Registration No. OC426416
SSA RECORDING LLP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 2 -
1
Accounting policies
Limited liability partnership information

SSA Recording LLP is a limited liability partnership incorporated in England and Wales. The registered office is 3rd Floor, The Bloomsbury Building, 10 Bloomsbury Way, Holborn, WC1A 2SL.

 

The limited liability partnership's principal activities are disclosed in the Members' Report.

1.1
Accounting convention

These financial statements have been prepared in accordance with the Statement of Recommended Practice "Accounting by Limited Liability Partnerships" issued in December 2021, together with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the limited liability partnership. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover represents the amounts recoverable for the services provided to clients, excluding value added tax, under contractual obligations which are performed gradually over time.

1.3
Members' participating interests

Members' participation rights are the rights of a member against the LLP that arise under the members' agreement (for example, in respect of amounts subscribed or otherwise contributed remuneration and profits).

 

Members' participation rights in the earnings or assets of the LLP are analysed between those that are, from the LLP's perspective, either a financial liability or equity, in accordance with section 22 of FRS 102. A member's participation rights including amounts subscribed or otherwise contributed by members, for example members' capital, are classed as liabilities unless the LLP has an unconditional right to refuse payment to members, in which case they are classified as equity.

 

All amounts due to members that are classified as liabilities are presented within 'Loans and other debts due to members' and, where such an amount relates to current year profits, they are recognised within ‘Members' remuneration charged as an expense’ in arriving at the relevant year’s result. Undivided amounts that are classified as equity are shown within ‘Members' other interests’. Amounts recoverable from members are presented as debtors and shown as amounts due from members within members’ interests.

 

Once an unavoidable obligation has been created in favour of members through allocation of profits or other means, any undrawn profits remaining at the reporting date are showing as 'Loans and other debts are due to members' to the extent they exceed debts due from a specific member.

1.4
Financial instruments

The limited liability partnership only has financial instruments which are classified as basic financial instruments.

 

Short-term debtors and creditors are measured at the settlement value. Any losses from impairment are recognised in profit and loss.

SSA RECORDING LLP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 3 -
1.5
Equity instruments

Equity instruments issued by the limited liability partnership are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the limited liability partnership.

The LLP's policy is that there are no post-retirement payments to members.

1.6
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation are included in the profit and loss account for the period.

2
Employees

The average number of persons (excluding members) employed by the partnership during the year was:

2023
2022
Number
Number
Total
-
0
-
0
3
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
-
40,241
Amounts owed by members
-
2,077,187
Other debtors
25,174
38,544
25,174
2,155,972
4
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
42,075
22,570
Other creditors
25,142
2,265,349
67,217
2,287,919
5
Loans and other debts due to members

In the event of a winding up the amounts included in "Loans and other debts due to members" will rank equally with unsecured creditors.

SSA RECORDING LLP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 4 -
6
Control

The LLP is ultimately controlled by A.Hedfors, S. Josefsson Fragogiannis, and S. Ingrosso with no individual having overall control.

7
Related party transactions

During the period, SSA Touring LLP, an LLP with the same ultimate controlling parties, incurred expenses on behalf of SSA Recording LLP totalling £1,225,719. During the period, SSA Recording LLP repaid £3,467,293 to SSA Touring LLP. At the balance sheet date the related party was owed £Nil (2022 - £2,241,574).

 

During the period, SSA Recording LLP incurred expenses on behalf of SSA Enterprises LLC, an LLC with the same ultimate controlling parties, totalling £85. During the period, SSA Enterprises LLC repaid £85 to SSA Recording LLP. At the balance sheet date the related party owed £Nil (2022: £Nil).

 

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